![]() ![]() For example if your plan has a per script deductible, this might be considered a co-pay amount because you may have to absorb $5 of the cost for each prescription you claim. For example the coinsurance for major dental and orthodontic coverage may have a different co-insurance percentage.Ī co-pay is flat dollar amount that could apply to a specific benefit each time you make a claim. For example, if your total claim is $100 and you have a 20% coinsurance, you will be responsible for $20 and your health plan will pay you $80.Ĭo-insurance can be different for different benefits covered by your plan. Where a deductible is a set dollar amount you must reach before anything is paid, the co insurance is applied to every claim you make.Ī typical co-insurance percentage is 20 percent. You are responsible for a percentage of your costs once any deductible amount has been satisfied. But fewer people understand terms like co-insurance and co-pay and what the difference is between them.Ĭo-insurance is a percentage of the cost of the health or dental products and services that you claim. Most people understand a plan deductible, which is a dollar amount that must be satisfied before any claim is paid each plan year. It’s much the same in health insurance and very few plans pay 100% of medical expenses. There’s usually a portion of the expenses that you are also responsible for. It’s common practice for your home and car insurance to only pay for a certain amount of your claim. What’s the difference between co-pay and co-insurance? ![]()
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